Bloomberg News

Cascade, New York Times, Skyworks, Whirlpool: U.S. Equity Movers

June 03, 2011

June 3 (Bloomberg) -- Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 4 p.m. in New York.

Air Methods Corp. (AIRM US) climbed 22 percent to $73.55, the highest price since its initial public offering in 1987. The provider of emergency medical transportation agreed to acquire Air Holdings Corp. for $200 million to expand its helicopter services.

Blyth Inc. (BTH US) dropped 14 percent, the most since June 2010, to $38.21. The maker of candles and decorations reduced its full-year forecast, saying it expects to earn $3 a share at most. The company had projected profit of at least $3.45.

Cascade Corp. (CASC US) rose 22 percent, the second-biggest rally in the Russell 2000 Index, to $47.44. The materials- handling equipment maker said it earned $1.46 a share excluding some items in the first quarter, beating the average analyst estimate by 77 percent, according to Bloomberg data.

DryShips Inc. (DRYS US) advanced 8.3 percent to $4.15, the highest price since May 13. The Greek owner of deep-water drilling rigs and vessels that haul iron ore and coal was raised to “buy” from “neutral” at Goldman Sachs Group Inc.

Forest Laboratories Inc. (FRX US) rallied 3.7 percent to $36.90 for the biggest gain in the Standard & Poor’s 500 Index. The New York-based drugmaker said it will repurchase $500 million of its common shares under an accelerated stock buyback program.

GT Solar International Inc. (SOLR US) rose 13 percent to $13.53, the highest price since August 2008. The maker of solar manufacturing equipment said it received a $460.4 million order from China for advanced sapphire crystallization furnaces, its largest single contract ever.

Monster Worldwide Inc. (MWW US) had the third biggest decline in the S&P 500, sliding 5.7 percent to $13.58. The world’s largest online-recruiting company fell after U.S. payrolls grew by a less-than-projected 54,000 last month and the jobless rate unexpectedly climbed to 9.1 percent.

Newell Rubbermaid Inc. (NWL US) declined 12 percent to $14.97 for the biggest loss in the S&P 500 Index. The maker of Sharpie pens and Rubbermaid containers cut its full-year profit forecast, saying economic woes are hampering consumer spending.

New York Times Co. (NYT US) rallied 6.5 percent to $8.06, the highest price since May 5. The newspaper owner was lifted to “neutral” from “sell” by William Bird at Lazard Capital Markets Ltd.

Orexigen Therapeutics Inc. (OREX US) plunged 33 percent to $2.12 for the biggest retreat in the Russell 2000 Index. The biopharmaceutical company said it will halt development of its Contrave diet pill after U.S. regulators asked for a large study on heart risks before approval.

Quiksilver Inc. (ZQK US) surged 15 percent, the most since Dec. 9, to $5.04. The sports-apparel company said it earned 9 cents a share excluding some items in the second quarter, compared with the average analyst estimate of 7 cents. Quiksilver was raised to “overweight” from “neutral” at Piper Jaffray Cos. The 12-month share-price estimate is $5.50.

Skyworks Solutions Inc. (SWKS US) lost 7.5 percent to $23.06, the lowest price since Nov. 17. The wireless semiconductor company was cut to “neutral” from “buy” by Vijay Rakesh, an analyst at Sterne Agee & Leach Inc..

Whirlpool Corp. (WHR US) dropped 4.9 percent to $76.98, the lowest price since Dec. 2. The world’s largest appliance maker’s profit estimates were cut by Longbow Research.

--With assistance from Nikolaj Gammeltoft, Lu Wang, Joanna Ossinger and Rita Nazareth in New York. Editors: Joanna Ossinger, Jeff Sutherland

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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